12-5169 RD · Kalapana, HI 96778

$101,000

1 bd · 1.0 ba · 500 sqft · SingleFamily · 148 Days on market

Good condition 7,500 sqft lot $202/sqft · 21% below area Est $128k · 21% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderfully improved property in Kalapana Gardens featuring cozy cabins and ready for its new owner. The main cabin is comfortably sized & thoughtfully laid out, with a living area at the entrance that flows into the kitchen & dining space. Attached on one side is a covered shower area, & the property is equipped with a Nature’s Head composting toilet. A second, separate cabin serves as a sleeping area & comfortably accommodates a queen-size bed. This cabin includes a lovely attached deck offering beautiful ocean views & spectacular sunrise vistas. Just outside the kitchen is an additional covered sitting area, perfectly situated within the beautifully landscaped yard featuring orchids, succulents, palms, & fruit trees. Additional property features include: Lava rock pillars at the entrance Cinder/gravel added to the driveway and walkway Storage shed located at the back of the property Fully fenced Sold furnished Two poly catchment tanks Three solar panels totaling approximately 900 watts Inverter and charge controller Medium-sized refrigerator Located a short distance from the stunning Hawaiian Pacific Ocean coastline, the property offers the opportunity to watch the sun rise over the eastern shore & observe whales during migration season. Cooling trade winds flow through here daily, enhancing the peaceful island lifestyle. Truly a unique and remarkable location. Within minutes, you’ll find yourself in the heart of Kalapana, home to a small store, weekly Farmer’s Market, & the well-known Uncle's Night Market offering food & music. Beautiful black sand beaches & lush tropical landscapes are also nearby. A 15-minute drive brings you to Pāhoa Town, where you’ll find restaurants, Malama Market grocery store, Ace Hardware, Longs Drugs, a library, public Olympic-size swimming pool, parks, schools, & medical facilities. This is an exceptional opportunity to own property in one of the most unique and special places in Hawai'i.

Key facts

• Attached deck
• Covered sitting area
• Lava rock pillars

Tags

• COVERED SHOWER AREA
• ATTACHED DECK
• COVERED SITTING AREA
• BEAUTIFULLY LANDSCAPED YARD
• LAVA ROCK PILLARS
• CINDER GRAVEL DRIVEWAY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $101k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• Recommended offer: $89k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hawaii Department Of Education (suburban): math 32% / reading 50% proficiency, ranked #1 of 1 in HI (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 387 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $698 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.93%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $127,609
• List price: $101,000
• Delta: -20.85%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Piilani Rd	0.69mi	1/1.0	494 (-1%)	13mo	$128,000	$259	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.37×
• Total profit: $10,574
• Equity at exit: $15,059

10-year hold

• IRR: 18.7%
• Equity multiple: 2.55×
• Total profit: $43,957
• Equity at exit: $8,733

Cash invested: $28,280 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 37 Tenant-Leaning
• State Hawaii: 37 Tenant-Leaning · D+13
• County: — inherits STATE
• City: — inherits STATE

Honolulu has source-of-income protections; warranty of habitability strong.

Methodology + full state rankings →

ZIP-level market 96778

• Home prices YoY: -15.3%
• Active inventory: 387
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$530
• Tax est. 1.5%: −$126 /mo · $1,515/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $423

Break-even live

Break-even rent $884

Max offer price $101,000

Occupancy floor 65%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,250
• Closing costs: $3,030
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $101,000 Active 148 DOM
2. 2026-06-17
   days on market $101,000 Active 147 DOM
3. 2026-06-16
   days on market $101,000 Active 146 DOM
4. 2026-06-15
   days on market $101,000 Active 145 DOM
5. 2026-06-13
   days on market $101,000 Active 143 DOM
6. 2026-06-13
   days on market $101,000 Active 142 DOM
7. 2026-06-10
   days on market $101,000 Active 140 DOM
8. 2026-06-09
   days on market $101,000 Active 139 DOM
9. 2026-06-08
   days on market $101,000 Active 138 DOM
10. 2026-06-07
    days on market $101,000 Active 137 DOM
11. 2026-06-05
    days on market $101,000 Active 134 DOM
12. 2026-06-03
    days on market $101,000 Active 133 DOM
13. 2026-06-02
    days on market $101,000 Active 132 DOM
14. 2026-06-01
    days on market $101,000 Active 131 DOM
15. 2026-05-31
    days on market $101,000 Active 130 DOM
16. 2026-01-21
    listed $101,000 Active 2040-char remark

    Show marketing remark (2040 chars)

    Wonderfully improved property in Kalapana Gardens featuring cozy cabins and ready for its new owner. The main cabin is comfortably sized & thoughtfully laid out, with a living area at the entrance that flows into the kitchen & dining space. Attached on one side is a covered shower area, & the property is equipped with a Nature’s Head composting toilet. A second, separate cabin serves as a sleeping area & comfortably accommodates a queen-size bed. This cabin includes a lovely attached deck offering beautiful ocean views & spectacular sunrise vistas. Just outside the kitchen is an additional covered sitting area, perfectly situated within the beautifully landscaped yard featuring orchids, succulents, palms, & fruit trees. Additional property features include: Lava rock pillars at the entrance Cinder/gravel added to the driveway and walkway Storage shed located at the back of the property Fully fenced Sold furnished Two poly catchment tanks Three solar panels totaling approximately 900 watts Inverter and charge controller Medium-sized refrigerator Located a short distance from the stunning Hawaiian Pacific Ocean coastline, the property offers the opportunity to watch the sun rise over the eastern shore & observe whales during migration season. Cooling trade winds flow through here daily, enhancing the peaceful island lifestyle. Truly a unique and remarkable location. Within minutes, you’ll find yourself in the heart of Kalapana, home to a small store, weekly Farmer’s Market, & the well-known Uncle's Night Market offering food & music. Beautiful black sand beaches & lush tropical landscapes are also nearby. A 15-minute drive brings you to Pāhoa Town, where you’ll find restaurants, Malama Market grocery store, Ace Hardware, Longs Drugs, a library, public Olympic-size swimming pool, parks, schools, & medical facilities. This is an exceptional opportunity to own property in one of the most unique and special places in Hawai'i.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $17,022
• − Mortgage interest: −$5,658
• − Property taxes: −$1,515
• − Insurance: −$505
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,938
• Taxable income: $3,683
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,188/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This property is in good condition with minimal repairs needed. It offers a cozy and well-maintained living space with potential for cosmetic upgrades to enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere.
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and improves functionality.
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and improves functionality.
• Both Upgrading the HVAC system — Improves comfort and energy efficiency, enhancing both resale and rental value.
• Both Upgrading the windows to energy-efficient ones — Improves energy efficiency and enhances curb appeal, boosting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere. ↑
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and improves functionality. ↑
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and improves functionality. ↑
• Both Upgrading the HVAC system — Improves comfort and energy efficiency, enhancing both resale and rental value. ↑
• Both Upgrading the windows to energy-efficient ones — Improves energy efficiency and enhances curb appeal, boosting both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hawaii Department Of Education
• NCES district ID: 1500030
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $69,005
• Composite: 37.07/100
• National rank: #4504
• State rank: #1 of 1 in HI

Livability — Kalapana

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Kalapana, HI
• Population (ZIP): 14,225

Population outlook (Hawaii County) Hauer SSP2

• Today (2025): 220,733 people
• By 2030: 232,156 · +5.2%
• By 2040: 252,486 · +14.4%
• By 2050: 272,703 · +23.5%
• By 2075: 332,113 · +50.5%
• By 2100: 398,342 · +80.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 37% Two or more races 30% Hispanic / Latino 15% Pacific Islander 15% Asian 12%
• Hispanic origin (detail): Mexican 4% Puerto Rican 9%
• Common ancestry: Russian 7% Italian 3% Romanian 3%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Other Asian/Pacific 11% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hawaii

• 2024 margin: Strong D (+28.3) · D 63.0% · R 34.7% · Other 2.3%
• 2008→2024 swing: -25.4pp toward R · 2008: 53.7pp · 2024: 28.3pp
• All cycles: 2024: D+28.3 2020: D+36.2 2016: D+36.6 2012: D+51.3 2008: D+53.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.52%
• Current HPI: 173.8168
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-21 Listed $101,000 HI Information Service